Balance of trade showing improvement

Mozambique’s trade trends over the past five years reflect a commodity-based economy that is recovering, investing and working to address persistent trade barriers. Export growth is outpacing that of imports, which is reducing the balance of payments deficit. In September, the central bank reported that the country’s trade balance deficit had fallen 9.8% year-on-year in the first quarter of 2025, to $546.2m. Exports grew by 4.8%, while there was a 7.3% drop in imports. The positive trend could be affected by Trump tariffs, as he slapped a 16% duty on Mozambican imports. According to US trade figures, the total goods trade with Mozambique was an estimated $365.6m in 2024. US goods exports to Mozambique were valued at $149.6m, down 21% ($40m) from 2023. Mozambique exports were valued at $216m, up 3% ($6.6m) from 2023. This is about 3% of Mozambique’s total exports of $8bn in 2024. Exports to the US included pearls, precious stones, metals, tea, aluminium, and cashew and macadamia nuts. The balance of payments is also affected by movements in global commodity prices and demand as mineral fuels, ores and agricultural goods continue to dominate export categories. Imports in Mozambique continue to rise, mainly due to industrial machinery, vehicle parts and mineral fuels, highlighting the country’s infrastructure and industrial growth. ER